Financial Friday


When I got asked to do the social media I was excited about it, I mean who wouldn’t want to look through pretty pictures of houses all day long and pin them on pinterest.   I soon realized, I did not know that much about buying a home.  I was curious about the process, I mean I would love to own one of the pretty homes I look at daily.  So I went to our in house mortgage banker Clark Aliano who gave me some easy steps.

12- Step Process to Home Ownership

1. Buyer receives pre-qualification letter from the lender; which provides the seller with a general  picture of the buyer’s credit worthiness.

2. Buyer then purchases home with Realtor’s help.

3. Contract is accepted when buyer and seller agree upon the terms.

4.  Buyer and seller agree upon a neutral third party to oversee the process; an escrow company.

5. The loan application and documentation requested by Lender is gathered by buyer and submitted to Lender.

6. The Lender then orders the title and property appraisal.  The property appraisal is meant to confirm the value of the asset to the lender as well as prevent the buyer from overpaying without being made aware of it.

7.  Loan documentation which was provided by the buyer to the lender to verify credit worthiness is reviewed and processed.

8. Loan is submitted to the underwriter; who reviews the loan documentation and has the authority to issue the final   loan approval.

9. Escrow company reviews entire file to make sure they’re ready to receive loan documents from Lender.

10. Loan Documents are signed

11. The loan is funded

12. Buyer gets the keys to their new home


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Suzy Frank is an expert on Venice Real Estate as well as L.A.'s entire Westside.

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